Investing
Alliqua BioMedical, SCANA Drop into Wednesday's 52-Week Low Club
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March 29, 2017: Here are four stocks trading with relatively heavy volume among 26 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by nearly 2 to 1 and on the Nasdaq advancers led decliners by about 3 to 2.
Alliqua BioMedical Inc. (NASDAQ: ALQA) dropped nearly 35% Wednesday, to post a new 52-week low of $0.41 after closing at $0.63 on Tuesday. The stock’s 52-week high is $32.10. Volume was more than 15 times the daily average of around 350,000. The regenerative technologies company this morning priced a secondary offering of 9.4 million shares at $0.40 per share.
Fang Holdings Ltd. (NYSE: SFUN) dropped about 11.2% Wednesday to post a new 52-week low of $2.46 after closing Tuesday at $2.77. The stock’s 52-week high is $6.53. Volume of about 4.1 million shares was about 55% above the daily average of around 2.7 million. A number of law firms announce investigations related to allegations reported by Bloomberg that a Beijing housing authority cancelled a unit of Fang’s brokerage license because the company posted fake online information for property sales.
Spirit Realty Capital Inc. (NYSE: SRC) posted a new 52-week low of $9.83 on Wednesday, down about 1% compared with Tuesday’s closing price of $9.93. The stock’s 52-week high is $13.97. Volume was about 40% below the daily average of around 5 million shares. The company had no specific news.
SCANA Corp. (NYSE: SCG) dropped about 2.9% Wednesday, to post a new 52-week low of $64.20 after closing at $66.14 on Tuesday. The stock’s 52-week high is $76.41. Volume was more than double the daily average of around 1 million shares. The company is being hit by the bankruptcy filing of Westinghouse.
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